Vote — approved

Jack Sellers	yes
Bill Gates	yes
Thomas Galvin	yes
Clint Hickman	yes
Steve Gallardo	yes

$38.96 of which zero ($0.00) is recoverable. Indirect cost recovery was not granted for the FY22 award. A cash or non-cash match is non-applicable. The award is non-competitive and is based on number of eligible students and enrollment. This award supports a continuing mandated function. Grant revenues are not local revenues for the purpose of the constitutional expenditure limitation, and therefore, expenditures of these revenues are not prohibited by the budget law. (C-50-21-151-X-01) Motion t

Item Text

38. RESOLUTION FOR LEASE AND LEASE-PURCHASE, EXECUTION AND DELIVERY OF AMENDMENTS AND SUPPLEMENTS TO LEASE-PURCHASE AND TRUST AGREEMENTS, AND FOR THE ISSUANCE OF CERTIFICATES OF PARTICIPATION Adopt a Resolution authorizing the Lease and Lease-Purchase of certain real property and the delivery and execution of amendments and supplements to lease-purchase and trust agreements for the issuance of tax exempt securities, consisting of certificates of participation (COPs), in an amount sufficient to finance not to exceed $142,500,000, plus cost of issuance, to finance, or to reimburse the County for costs related to the construction, acquisition and equipping of County capital projects scheduled for fiscal years 2020-21, 2021-22, 2022-23, and 2023-24. The COPs would finance capital projects for General Fund and Special Revenue Fund departments. Exhibit A shows the proposed capital project expenditures by anticipated fiscal year. In accordance with A.R.S. §42-17106(B), authorize the following amendments to the fiscal year 2022 Non-Departmental (D470) budget: a) Decrease the revenue and expenditure appropriation authority in the Non Departmental (D470) Non Departmental Grant Fund (249) Non Recurring Non Project (NRNP) budget by $1,500,000. b) Increase revenue appropriation in Non-Departmental (D470) County Improvement COPs Series 2022 Fund (443) Non-Recurring (1001) not to exceed $144,000,000 c) Increase expenditure appropriation in Non-Departmental (D470) County Improvement COPs Series 2022 Fund (443) Non-Recurring (1001) not to exceed $1,500,000. On July 22, 2020, and June 23, 2021, the Board of Supervisors approved the Authorization Resolutions and Declarations of Intent to Reimburse required for the issuance of tax exempt securities (C-18-21-003-X-00 and C18-21-094-X-00) to reimburse prior expenditures related to the construction, acquisition and equipping of County capital projects scheduled for fiscal years 2020-21, 2021-22, 2022-23, and 2023-24. The maximum principal amount of the obligation expected to be issued is $142,500,000, plus cost of issuance. (C-18-22-072-X-00)

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